Page 24 Advertisements Column 6

Press, Volume LXXIII, Issue 22194, 10 September 1937, Page 24

BOROUGH OF SUMNER. of s u m.n e r NOTICE OF SPECIAL ORDER ) r i t i i i * NOTICE is hereby given that at a Special Meeting of the Sumner Borough Council held on the 11th day of August, 1937, the following Resolutions were passed and will be submitted for confirmation at a special Meeting of the Council to be held on the 15th day of September 1937 at 7.15 p.m. at the Council Chambers, Wakefield Avenue, Sumner. RESOLUTION:—(I) In pursuance of the powers vested in it by “The Finance Act 1936" No. 2, The Employment Promotion Act 1936,” Tim Local Government Loans Board Act 1926, >( and “The Local Bodies Loans Act 1926, and all other powers and authorities (it any) in that behalf enabling it, the Sumner Borough Council hereby resolves, by way of Special Order, as follows: 1. To raise a sum of Seven thousand four hundred pounds (£7400) for the purpose of installing new sewerage works and for the purchase and erection of all plant, material and things Incidental thereto in the “Valley Special Sewage Area of the Borough. 2. That the term of the said Loan shall be thirty (30) years, and further that such Loan be known as The Sumner Borough Council Valley Sewerage Loan £7400. (1937). 3. That the rate of interest on the said loan or any part thereof shall be such as shall not produce to the lender or lenders a rate exceeding three pounds ten shillings (£3 10s Od) per centum per annum, payable half yearly. 4. (a) That to provide funds for the repayment of the Loan the Council hereby creates a Sinking Fund. (b) That the Public Trustee in and for the Dominion of New Zealand shall be and is herein appointed the Commissioner of the said Sinking Fund and such appointment shall be irrevocable. (c) That the Council hereby resolves to appropriate and pay to the Commissioner of the said Sinking Fund out of the Special Rate applicable for that purpose, a contribution equal to two pounds (£2) per centum per annum calculated on the value of the securities issued in respect of every part of the said Loan for the time being raised and not repaid; the first of such contributions to be made not later than ore year after the first day from which interest to the lender or lenders is computed. 5. That the security for payment of principal and interest on the said Loan shall take the form of Debentures with relative coupons in conformity with the requirements of "The Local Bodies Loans Act 1926” and that such Debentures. when printed shall be executed, sealed and Issued as required. 6. That no amount payable as either interest or sinking fund in respect of the said Loan shall be paid out of Loan money. 7. That the Rate for brokerage, underwriting, and promotion fees in respect of the raising of the said Loan or any part thereof shall not in the aggregate exceed one-half per centum of any amount raised. 8. That the payment of Interest and repayment of principal In respect of the said Loan shall be made in New Zealand. 9. That the cost of raising the Loan be not paid out of the Loan. 10. That the Council doth hereby appropriate and pledge as security for the repayment of the said Loan and the interest sinking fund and other charges thereon a Special Rate of Five and nine-tenths pence (5.9 d) In the pound on the Rateable value (on the basis of the unimproved value) of all Rateable property within the Valley Special Sewage Rating Area of the Borough of Sumner the boundaries of which are described in the Schedule hereto such special Rate shall be an annual recurring rate during the currency of such loan, and be payable yearly on the Fourth day of August in each year during the currency of such Loan being a period of thirty years, or until the Loan is fully paid off. AND NOTICE IS HEREBY FURTHER GIVEN in pursuance of the provisions of The Finance Act 1936 (No. 2) That a poll of the ratepayers will be taken on the foregoing proposal if five per centum of the Ratepayers of the District so demand by writing under their hands delivered to, or sent by post to the Sumner Borough Council at its office situate in Wakefield Avenue. Sumner, before 4 p.m. on Wednesday the 15th day of September 1937, SCHEDULE ALL that area in the Borough of Sumner commencing at the north west corner of lot 1 on Deposit Plan 3135 thence in a south westerly direction along Wakefield Avenue to the south west corner of Lot 2 of D.P.D.R. 1519 thence along the south west boundaries of Lots 3/5 D.P.D.R. 1519 to the south west boundary of Lot 6 D.P.D.R. 1519 thence In a north easterly direction along Queen Street to the north corner of Lot 38 D.P.D.R. 1519 thence in a south easterly direction to the north east corner of Lot 18a: thence along Heberden Avenue to the north east corner of Lot 8 D.P. 6767 thence in a north westerly direction to the junction of the boundaries of Lots 5 and 8 D.P. 6767; thence along the south east boundary of Lot 5 D.P. 6767 to Colenso Street, thence along Colenso Street to the soutli east corner of Lot 236; D.P. 144, thence along Head Street to the north east corner of Lot 236 D.P. 144, thence along the boundaries of Rural Sections 13 and 144 to Euston Street, thence in a south westerly direction along Euston Street to the north east corner of Lot 182 D.P. 144; thence tn a north westerly direction to the north east corner of Lot 184 D.P. 144; thence to a point at the North East boundary of Lot 185 D.P. 144: thence in a north westerly direction along the north west boundaries of Lots 185, 187, 189, 191, 193. D.P. 144. Lot 3 D.P. 6288; across Harper Street to the north east corner of Lot 199 D.P. 144; thence along the northern boundary of Lot 199 D.P. 144 to the south east corner of Lot 3 D.P. 0339. thence along the north west boundary of Lot 199 D.P. 144 to a point opposite Lot 20 D.P. 3135; thence along Whitfield Street to the north east corner of Lot 19 D.P. 3135; thence along the northern boundary of Lot 19 DP. 3135; thence along the north west boundaries of Lots 19 and 1 D.P. 3135 to the commencing point. ALSO all the land described as Lots 232 D.P. 13 and Lots 1, 2, 3, 4, 5. and 6 D.P. 4844. The same being more particularly delineated on a plan deposited for public inspection at the office of the Sumner Borough Council, Wakefield Avenue, Sumner. RESOLUTION (2) In pursuance and exercise of the powers vested in it by The Finance Act 1936 (No. 2), The Employment Promotion Act 1936, The Local Government Loans Board Act 1926, The Local Bodies Loans Act 1926 and all other powers and authorities (if any) in that behalf enabling it, the Sumner Borough Council hereby .resolves by way of Special Order as follows: 1. To raise a loan of Two thousand one hundred pounds (£2100) for the purpose of eliminating septic tanks in the streets of the Sumner Special Drainage Area and the installation of a new intercepting sewer with rising main along the Esplanade and the payment for all labour materials and things incidental to the work. 2. That the term of the Loan shall be thirty (30) years and further that such loan be known as “The Sumner Drainage Area Extension Loan of £2IOO (1937).” 3 That the rate of interest on the said loan or any part thereof shall be such as shall not produce to the lender or lenders a rate exceeding three pounds ten shillings (£3 10s Od) per centum per annum, payable half-yearly. 4. (a) That to provide funds for the repayment of the Loan the Council hereby creates a Sinking Fund. (b) That the Public Trustee in and for the Dominion of New Zealand shall be and is herein appointed the Commissioner of the said Sinking Fund and such appointment shall be Irrevocable. (c) That the Council hereby resolves to appropriate and pay to the Commissioner of the said Sinking Fund out of the Special Rate applicable for that purpose, a contribution equal to two pounds (£2) per centum per annum calculated on the value of the securities issued in respect of every part of the said Loan for the time being raised and not repaid: the first of such contributions to be made not later than one year after the first day from which interest to the lender or lenders is computed. 5 That the security for payment of principal and interest on the said Loan shall take the form of Debentures with relative coupons in conformity with the requirements of "The Local Bodies Loans Act 1926” and that such Debentures, when printed shall be executed, sealed and Issued as required. 6. That no amount payable as either interest or sinking fund in respect of the said Loan shall be paid out of Loan . money. 7 That the Rate for brokerage, underwriting, and promotion fees in respect of the raising of the said Loan or any part thereof shall not in the aggregate exceed one-half per centum of any amount raised. 8. That the payment of Interest and repayment of principal in respect of the said Loan shall be made in New Zealand. 9. That the cost of raising the Loan be not paid out of the Loan. 10. That the Council doth hereby appropriate and pledge as security for the repayment of the said Loan and the Interest sinking Fund and other charges thereon a special Rate of 1 decimal poto); Jwg 4y® iM